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"Leo Colgar" BiziNet™ Articles



Showing Articles [1 - 5] of 20.

Depreciation Claims in Property Investments

Leo Colgar

Property investments are always popular among Australian investors. However, the ATO is overly sensitive about claiming the correct type of expenses. Depreciation is especially important in that sense because, first of all, it is a non-cash expense, secondly, we don't have to calculate it on our side. There are quantity surveyors to do the job. Let me explain a bit further.



Leo Colgar, Bright Accounting and Taxation Services
BiziNet Magazine #107 - Apr/May 2021

Why does the ATO Audit the Taxpayers and what does it Involve?

Leo Colgar

The Australian Taxation Office conducts various types of tax and compliance audits when it deems that a more extensive information of an issue is necessary. The complexity of these audits can be varied from a very basic question to a highly extensive investigation. Sometimes the process starts with a basic review than can lead to an audit in a later stage. In many cases, the audit period changes between 2 to 4 years, however, the ATO can go back as many years as needed, if there is a suspect of fraud or evasion.



Leo Colgar, Bright Accounting and Taxation Services
BiziNet Magazine #106 - Feb/Mar 2021


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